For the last week of January, Machinery Pete has selected a 1980 John Deere 4640 out of Sheffield, Ill., that sold for $57,250 at BigIron Auctions for his Pete’s Pick of the Week.
The listed operating hours on this 45-year old tractor (1,708) are a bit deceiving: Machinery Pete says it has been overhauled with a reman engine and quad range transmission. It also has upgraded steps and an add-on LED lighting package with extended mirrors.
Why Pete Picked It: Machinery Pete says this machine has undergone “basically tons of detail work to make it look new, and I mean it did look like new.”
The price it brought at auction is the third highest used auction price ever for a 1980 John Deere 4640. The all-time record is $61,000, set at a Sullivan Auctioneers auction in Bingham Lake, Minn., in August 2019.
At that same Sheffield, Ill., auction, a 2023 John Deere 8RX 410 with only 208 hours sold for $352,750. Considering a comparable model is currently listed for sale online at a large Midwest-based John Deere dealer for $579,900, it seems fair to say the lucky buyer took home quite a bargain.
Four 2022 John Deere 8R 410 tractors sold for an average price of $343,750 at a Wheeler Auctions & Real Estate consignment sale in Paris, Mo. That’s down about $6,000 from last year’s average auction price of $349,660, which according to Machinery Pete is down 14% from the 2023 average price.
On Monday, Machinery Pete joined Chip Flory on “AgriTalk.” Catch his segment here:
Dealer acquisition news
Machinery Pete shared that Eis Implement, a third-generation, family-owned John Deere dealership located near Manitowoc, Wis., is being acquired by Riesterer & Schnell, another family-owned John Deere dealer with deep roots in The Badger State.
And in Illinois, Martin Tractor and Prairie State Tractor are merging together and joining forces with Heritage Tractor. Heritage has dealerships in Kansas, Missouri, Arkansas and now in Illinois. The newly merged Illinois dealer network will operate across 22 outlets.
“There’s a lot happening in the dealer space and it’s driven by this inventory and pressure on dealers to pay 8% interest on all their used stuff,” Peterson told AgriTalk Radio host Chip Flory. “But one thing I’m seeing, Chip, as these dealers get bigger and bigger and bigger and bigger, it is fascinating to me they are exerting a lot of pressure back on the manufacturer and it’s doing things I’ve never seen before. So, the ecosystem is changing as we speak.”
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